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Press Releases

Oct 14, 2010

Sandspring Resources Ltd. Announces Completion of C$51,046,000 Bought Deal Offering

Sandspring Resources Ltd. (SSP: TSX-V) ("Sandspring" or the "Company") announced today that it has completed its previously announced bought deal private placement offering of common shares. The Company issued an aggregate of 19,633,077 common shares at a price of C$2.60 per common share raising gross proceeds of C$51,046,000, including the exercise of the full underwriters' option of C$6,006,000. The underwriting syndicate was co- led by Jennings Capital Inc., GMP Securities L.P. and Mackie Research Capital Corporation, and included Cormark Securities Inc. The underwriters received a 5.5% cash commission in respect of the offering.